Companies

Jet’s airport slots: Clear your stance, NCLT tells DGCA, Aviation Ministry

Our Bureau. Mumbai | Updated on January 08, 2021 Published on January 08, 2021

To hold hearing on resolution plan on January 12

The Mumbai Bench of the National Company Law Tribunal (NCLT) has issued a notice to the Directorate General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MoCA), asking them to clear their stance on Jet Airways’ erstwhile slots and appear for a hearing on January 12.

This comes even as the two-judge Bench is hearing an application on behalf of the Resolution Professional (RP), Ashish Chhawcharria, to approve the resolution plan submitted by Kalock Capital and Murari Lal Jalan.

The lawyer appearing on behalf of the RP told the Bench: “Slots are a vital part of the plan, and it is important that the DGCA and MoCA submit their stance on the same.” A slot is a date and time at which an airline's aircraft are permitted to depart or arrive at an airport.

Prior to its grounding in April 2019, Jet Airways had 700 such slots, and operated a total of 110 aircraft. MoCA had temporarily allocated the domestic and international slots to other airlines to overcome the capacity deficit. All airlines including SpiceJet, IndiGo, Air India, GoAir and Vistara had received the slots, with SpiceJet ending up with the most.

In 2019, DGCA and MoCA representatives had said they would “positively consider” returning Jet’s slots if a firm plan was presented during the hearing.

At its peak, Jet had 22,000 employees, including 6,000 on contract. According to company sources, it still has over 4,500 employees on its payroll.

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Published on January 08, 2021
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